Press Release

Issued by ExecuJet Haite Aviation Services.

July 10, 2012

ExecuJet Haite has announced that it has received Chinese CAAC Part 145 approval. The approval enables ExecuJet Haite to carry out maintenance activities on most Bombardier business jets.

The Part 145 CAAC approval brings ExecuJet Haite, based at Binhai International Airport in Tianjin, China, closer to becoming a comprehensive business jet maintenance, repair and overhaul (MRO) facility. ExecuJet Haite intends to expand this maintenance approval scope to include other business jet manufacturers, in line with ExecuJet's other maintenance facilities and in anticipation of the expected influx of business jets into China.

The approval was received by Li Biao, chairman, ExecuJet Haite and Graeme Duckworth, Managing Director, ExecuJet Asia. Duckworth said: "We have received the Part 145 approval in record time thanks to the excellent cooperation between CAAC and the staff at ExecuJet Haite. With the team of OEM factory-trained engineers and the new ground support equipment and tools, we look forward to providing a client service equal to that for which ExecuJet is renowned globally. ExecuJet Aviation Group remains committed to developing ExecuJet Haite with our joint venture partners Tianjin Haite, and growing the company into other aviation sectors in the future."

Li added: "We are pleased ExecuJet Haite has received Part 145 approval from the CAAC and everyone's hard work has paid off. We believe ExecuJet Haite will bring a higher business ethic and standard to China's aviation market and the joint venture will become a dominant force within business aviation in China."

ExecuJet Haite is also undergoing European Aviation Safety Agency (EASA) approval, expected to be awarded later in 2012.